Overview

Down to a fine art: Greater ticket admissions and private donations have supported growth

The Art Galleries and Museums market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Industry operators have developed interactive educational displays to attract new visitors
  • Heightened external competition has limited the revenue generated from admission fees
  • State governments are projected to increase spending on art galleries and museums

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    Industry Analysis & Industry Trends

    Despite a highly competitive environment, the Art Galleries and Museums industry has achieved modest growth over the past five years. Art galleries and museums contend with other leisure, sporting and entertainment organisations for a share of consumer expenditure and government funding. As a result, the industry has developed special exhibitions and interactive educational displays to attract new visitors and retain existing patrons. Art galleries and museums have continued to reposition themselves as social institutions, widening their appeal to new audiences and helping them secure government grants.

    Successful art gallery and museum operators have made use of existing and emerging digital media to offer online virtual museums...

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    Industry Report - Industry Investment Chapter

    The industry requires high labour inputs, as extensive staff and volunteer work is required for conservation, mounting of displays, interpretation, education and research. The industry also has significant capital requirements associated with vehicles; buildings required to display and store items; costs for museum and art gallery plant and equipment such as lighting, heating and cooling; and artwork conservation expenses. Overall, the industry exhibits medium capital intensity. For every dollar spent on wages, an estimated $0.31 is invested in capital. However, this figure underrepresents the industry's labour intensity, due to the large number of volunteers that help facilitate operations. Cap..

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    Additional Insights for the Art Galleries and Museums Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Art Galleries and Museums Industry are

  • Carrying out all necessary maintenance to keep facilities in good condition
  • Effective product promotion
  • Marketing of differentiated products
  • IBISWorld analysts also discuss how external factors such as Government funding for heritage and arts and Expenditure on recreation and culture in the Art Galleries and Museums industry impact industry performance..

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    Industry Products

    What is the Art Galleries and Museums Industry?

    Operators in the industry run and manage art galleries and museums across Australia. The industry also includes businesses that operate historic houses.

    Industry Products
    Art gallery exhibitions
    Museum exhibitions
    Merchandise sales
    Other products and services
    Industry Activities
    Art gallery operations (except)
    Art museum operations (except)
    Historic house and heritage site operations
    Historic railway operations
    Maritime museum operations
    Museum operations
    Natural history and science centre operations
    Social history museum operations
    Transport museum operations
    War memorial museum operations

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Government funding for heritage and arts
  • Expenditure on recreation and culture
  • Real household discretionary income
  • Average weekly hours worked
  • High income earners
  • Total visitor nights

  • Current Performance
  • The big picture
  • The changing market
  • Generating funds
  • Chart: Revenue Growth

  • Industry Outlook
  • Public and private funding
  • Admissions
  • Table: Art Galleries and Museums Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Art Galleries and Museums Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Education and Training
  • Consumers

  • Key Selling Industries
  • Creative Arts
  • Professional, Scientific and Technical Services

  • Products & Services
  • Museum exhibitions
  • Art gallery exhibitions
  • Merchandise sales
  • Other products and services
  • Chart: Art Galleries and Museums Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Highest income quintile
  • Fourth income quintile
  • Third income quintile
  • Second income quintile
  • Lowest income quintile
  • Chart: Major Market Segmentation for the Art Galleries and Museums Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Art Galleries and Museums

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Art Galleries and Museums Industry

  • Industry Globalization
    Major Companies
    National Gallery of VictoriaMuseums Board of Victoria
  • Table: National Gallery of Victoria - financial performance
  • Table: Museums Board of Victoria - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Art Galleries and Museums Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Art Galleries and Museums Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Interactive Displays
  • Exhibitions that incorporate technology and elements that can be handled by visitors to enhance their experience.
  • Niche Operators
  • Museums that focus on, or specialise in, one particular theme.
  • Social History Museum
  • A museum that houses collections and information that relate to historically significant events.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Art Galleries and Museums:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Art Galleries and Museums market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Art Galleries and Museums, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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